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NY Times: Financiers + Charter Schools=TLA

The 2010 Buffalo School Board Election was last Tuesday, but today the New York Times is further describing the way lobbying groups like Education Reform Now (ERN) are focusing hedge fund money “with a laserlike focus” to advance charter school candidates. What’s up with these people?

Joe Williams, a former education reporter for The Daily News, was quoted in the Buffalo News before last week’s election, but who knew that Williams is THE MAN you need to talk to if you want some Wall Street money in your campaign chest—just ask Andrew Cuomo. And last month, ERN, “received a promise of $1 million from the Robin Hood Foundation, a Wall Street charity, in recognition that ‘this is an all-hands-on-deck moment,’ said David Saltzman, its executive director.”

Meanwhile, many hedge fund managers are expected to line up at Sam Hoyt’s $1,000/plate fundraiser being thrown by NYC Mayor Michael Bloomberg, another Charter School cheerleader.

Campaigning is expected to escalate at least until the June 1 deadline to apply for $700 million in Race to the Top Funds.

Who could have imagined Wall Street “emerging as perhaps the first significant political counterweight to the powerful teachers unions.”


  • Follow the money …

    to who finances, owns and builds the charters. These projects are heavily subsidized by the IDA’s, funded by public school taxes, and built and owned by exactly whom? There is a need for complete transparency now before a bailout is needed. Here questions to ponder: Why aren’t the charter schools going into the newly renovated Buffalo Public School buildings? Why are charter schools building next door to BPS buildings? What is going to happen to the renovated BPS buildings if the charter school movement attracts more students than the public schools? Why aren’t the public schools talking to the charter schools and planning the education of children out?